Proto Labs (NYSE:PRLB) Releases Q3 Earnings Guidance

Proto Labs (NYSE:PRLB) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.29-0.37 for the period, compared to the consensus estimate of $0.41. The company issued revenue guidance of $117-125 million, compared to the consensus revenue estimate of $129.62 million. Proto Labs also updated its Q3 2024 guidance to 0.290-0.370 EPS.

Proto Labs Stock Performance

Shares of PRLB opened at $28.39 on Friday. The company has a market capitalization of $718.83 million, a P/E ratio of 36.87 and a beta of 1.33. The business’s 50-day moving average is $31.58 and its two-hundred day moving average is $33.41. Proto Labs has a fifty-two week low of $23.01 and a fifty-two week high of $41.87.

Proto Labs (NYSE:PRLB) last posted its earnings results on Friday, May 3rd. The industrial products company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.13 by $0.07. The firm had revenue of $127.89 million for the quarter, compared to analyst estimates of $123.81 million. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. Analysts forecast that Proto Labs will post 0.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRLB. Craig Hallum dropped their price objective on shares of Proto Labs from $38.00 to $34.00 and set a hold rating on the stock in a research note on Monday, May 6th. Needham & Company LLC restated a hold rating on shares of Proto Labs in a research report on Monday, May 6th. Cantor Fitzgerald reiterated an overweight rating and issued a $44.00 price objective on shares of Proto Labs in a research report on Tuesday, July 30th. Finally, Benchmark restated a buy rating and set a $45.00 target price on shares of Proto Labs in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Proto Labs has an average rating of Moderate Buy and an average price target of $41.25.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.